Websites to find grants and loans to renovate/purchase a house?
Saturday, February 27th, 2010 at
3:27 am
I’m looking at a house I really love but the basement isn’t finished and the backyard needs some work. I’m wondering if there are grants or loans available to help me purchase this house to to renovate/update it once purchased?
Sell and Rent Back
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Filed under: property renovation
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What you need to do is find a Lender and/or Realtor that knows where the money is. There are grants and such available, but you need to go to a source of those funds. Websites aren’t going to help you. Most of those grants are provided by non profit organizations.
You need to talk to lenders to be prequalified anyway, so you might as well start there. Once you know what you can afford to purchase, then ask about programs that provide some assistance. What you may find is most grants are for downpayment assistance and/or closing costs. Now, FHA if you qualify, does have a Rehab program (203K) that might work for you, but again only a lender with FHA knowledge can help you with that type of loan.
So no matter how you look at it, you would be wise to use the professional services available to you in lenders and Realtors. Realtors are free services with a wealth of knowledge and expertise, and the means to help you put together a transaction to suit your lifestyle and pocket book.
Best of Luck! And thanks for being in the market!
Alter is absolutely right, there is no blatant website advertising of low interest rate loans or grants to renovate property. Some communities have funding available for these projects, there are non-profit organizations that may do this too.